This paper investigates how cryptocurrency advertising and social media ecosystems shape Indian teenagers’ perceptions of risk, trust and opportunity in digital assets. Against a backdrop of low youth financial literacy and rising Gen Z participation in crypto investing globally, understanding how young people interpret persuasive financial content is increasingly relevant. The study addresses a gap in existing work, which largely focuses on adult retail investors in developed markets and text-heavy platforms, by examining how Indian adolescents and young adults (13–25) encounter and evaluate highly visual, youth-facing crypto promotions. A qualitative-dominant mixed-methods design is employed. Visual content analysis of nine high-visibility crypto campaigns on platforms such as YouTube and Instagram is combined with a short online survey of 27 Indian respondents aged 13–25. The ad coding captures colour, emotional framing, FOMO and “easy money” language, celebrity presence and the visibility of risk disclaimers, while the survey records perceived trustworthiness, risk, confusion, sources of information and self-reported confidence in understanding crypto. Findings show that the analysed campaigns systematically amplify reward cues, normalise speculative trading as simple and aspirational, and relegate risk warnings to low-salience text, often using bank-like or game-like framing that exploits conceptual gaps around regulation and product safety. Survey responses suggest that many teenagers recognise hype and misleading tropes yet still rely heavily on influencers and peers, report FOMO and express limited confidence in their own financial knowledge. The paper argues for stronger youth-oriented media-literacy interventions, stricter enforcement of advertising standards, and platform-level tools that foreground risk and sponsorship in crypto content aimed at or easily accessed by young audiences.
Open access
Impact of Technology on Adolescents
Consumer Behavior in Brand Consumption and Identification
Objective: The aim of this study was to examine the relationship between personality traits, impulsive behaviors and gambling tendencies among individuals who invest in cryptocurrency.Methods: The study was cross-sectional and correlational. Data were collected both online and face-to-face between September 2022 and March 2023 from 300 individuals registered at a financial center who met the inclusion criteria. Four scales were used: the Descriptive Information Form, the South Oaks Gambling Screening Scale, the Five-Factor Personality Scale, and the UPPS Impulsive Behavior Scale. Descriptive statistics and correlation analyses were used to evaluate the data.Results: The mean age of the individuals who participated in the study was 31.68±8.06 years. 79.3% of the individuals were male, 49.7% were single and 39.3% had children. While there was a statistically significant, positive correlation between the South Oaks Gambling Screening Scale scores and the agreeableness subscale scores among individuals who invest in cryptocurrency (p
This systematic review synthesises empirical research on individual-level cryptocurrency adoption, distinguishing adoption intention, actual adoption and use, and continuance intention and use. We searched Scopus and Web of Science for English-language empirical studies published between 2019 and 2025 and synthesised findings using a structured narrative approach. Eighty-five studies were included, with reported sample sizes summing to 56,054 participants. No formal study-level risk-of-bias assessment was conducted. The literature was dominated by cross-sectional quantitative studies and technology-adoption frameworks, particularly UTAUT, TAM, TPB, and DOI. Evidence was strongly concentrated on adoption intention (n = 75), whereas actual adoption and use (n = 16) and continuance intention and use (n = 8) were examined much less frequently. Across studies, adoption was associated with psychological, technological, social, economic, knowledge-related, institutional, and individual factors, with no single determinant consistently dominating across outcomes. The synthesis further distinguished direct predictors, mediating mechanisms, moderators, drivers, and barriers. The evidence base is limited by its reliance on self-reported, cross-sectional designs and uneven coverage of realised and continued engagement. Future research should more clearly specify adoption outcomes and use longitudinal, behavioural, and post-adoption designs.
The integration of blockchain technology into e-learning ecosystems offers a foundational shift toward secure, transparent, and decentralized educational architectures. Despite this potential, current literature reviews frequently remain descriptive, lacking the depth of systematic comparative analysis. To bridge this gap, this study conducts a rigorous critical survey of blockchain-based e-learning research published from 2018 through 2025. Following PRISMA protocols, we evaluate the literature using a novel multi-dimensional analytical framework that simultaneously cross-examines four interdependent evaluation axes: (1) blockchain architectural design (public vs. permissioned), (2) consensus mechanism suitability for educational throughput, (3) privacy-preservation technique alignment (e.g., Zero-Knowledge Proofs, off-chain storage), and (4) regulatory compliance posture (GDPR/FERPA). This combinatorial lens, applied specifically to e-learning systems, distinguishes our framework from prior single-criterion evaluations. We qualitatively compare and critically evaluate educational blockchain applications against conventional centralized learning management systems, employing a structured multi-criteria analytical framework. Furthermore, our filtering process yielded 56 eligible studies, from which 22 pivotal works were selected for in-depth analysis to suggest an original taxonomy. Our analysis identifies enduring obstacles like interoperability, governance, and regulatory compliance (such as GDPR/FERPA) while highlighting a strategic shift toward permissioned networks and hybrid storage models. In conclusion, this work advances the conversation beyond simple introductory talks by providing practical design approaches for the upcoming blockchain-enabled learning environments.
This paper explores how social influence and peer networks shape the adoption of cryptocurrencies and decentralized finance (DeFi) platforms. Drawing from qualitative interviews and social theory, the study examines how interpersonal communication, social media influence, and online communities impact user behavior. Findings reveal that peer endorsement and communal learning are strong drivers of trust and experimentation in the crypto space, especially in regions with limited institutional trust. Peer networks act as informal but powerful educational structures, providing newcomers with advice, emotional support, and real-time market insights. In many cases, peer encouragement is what propels hesitant individuals to take the first step toward using crypto wallets or engaging in DeFi protocols. However, the influence of peers can also perpetuate hype-driven narratives, misinformation, and herd behavior, leading to poor financial decisions or susceptibility to scams. The paper concludes with recommendations for leveraging peer networks in designing effective crypto awareness and onboarding strategies. These include integrating community leaders into education campaigns, offering platform incentives for verified peer mentorship, and collaborating with trusted influencers to communicate risks and best practices. Understanding the dynamics of social influence can help policymakers, educators, and platforms foster more ethical, inclusive, and informed crypto adoption pathways globally.
Alexander Kropiunig, Svetlana Kremer, Bernhard Haslhofer
Crypto Key Opinion Leaders (KOLs) shape Web3 narratives and retail investment behaviour. In volatile, high-risk markets, their credibility becomes a key determinant of their influence on followers. Yet prior research has focused on lifestyle influencers or generic financial commentary, leaving crypto KOLs' understandings of motivation, credibility, and responsibility underexplored. Drawing on interviews with 13 KOLs and self-determination theory (SDT), we examine how psychological needs are negotiated alongside monetisation and community expectations. Whereas prior work treats finfluencer credibility as a set of static credentials, our findings reveal it to be a self-determined, ethically enacted practice. We identify four community-recognised markers of credibility: self-regulation, bounded epistemic competence, accountability, and reflexive self-correction. This reframes credibility as socio-technical performance, extending SDT into high-risk crypto ecosystems. Methodologically, we employ a hybrid human-LLM thematic analysis. The study surfaces implications for designing credibility signals that prioritise transparency over hype.
The rapid rise in cryptocurrencies has created an investment environment marked by unprecedented levels of information volume, fragmentation, and volatility. While prior research has examined drivers of trust and adoption in crypto markets, far less is known about the psychological consequences of information overload on investor decision-making. This study addresses this gap through nineteen semi-structured interviews with individual cryptocurrency investors, analyzed using an inductive, manually conducted thematic approach. Findings reveal four interconnected dynamics: decision fatigue and paralysis, heuristic reliance on influencers and peers, emotional strain characterized by anxiety and fear of missing out (FOMO), and diverse coping strategies ranging from selective filtering to withdrawal. These results demonstrate that crypto investing is not only a financial process but also a cognitively and emotionally taxing experience. By linking investor narratives to broader theories of decision fatigue, bounded rationality, and consumer vulnerability, the study contributes to interdisciplinary debates in marketing, behavioral finance, and consumer psychology. Practically, the findings highlight the need for clearer communication strategies, supportive platform design, and financial education initiatives that help investors manage cognitive strain and decision fatigue. In a market where credibility is fluid and decisions are often made under conditions of overload, understanding the psychological dimensions of investment behavior is essential.
We examine the association between cryptocurrency environmental attention and cryptocurrency bubbles. Our results indicate that environmental attention is positively associated with the probability of a cryptocurrency bubble and ranks as the second most important explanatory factor. The positive association is more pronounced for smaller, less-mature, and proof-of-work (PoW) cryptocurrencies, indicating that cryptocurrency characteristics are important determining factors of bubble formation.
Project Title Understanding Financial Counsellor Perspectives On Cryptocurrency Investing Principal Investigator Ajith Perera (PhD Candidate, RMIT University) Supervisors: Dr. James Collett (Primary), Dr. Russell Conduit (Secondary) Project Description This qualitative research explores how financial counsellors conceptualise and respond to cryptocurrency-related financial harm in their professional practice. The study examines counsellors' perspectives on whether cryptocurrency engagement represents gambling, investment, or hybrid behaviours, and investigates how these conceptualisations influence intervention strategies. Financial counsellors encounter diverse presentations including voluntary problematic trading patterns and cryptocurrency-related fraud victimisation, both potentially exhibiting gambling-like psychological mechanisms such as loss-chasing and escalating commitment. Research Aims and Objectives Primary Aim: To understand how financial counsellors view and interact with clients who engage with cryptocurrencies across the gambling-investment-fraud continuum. Research Questions: How do financial counsellors decide if someone's cryptocurrency trading reflects gambling versus investment behaviours (including voluntary problematic trading and exploitation through fraudulent schemes)? What role does financial literacy play in whether clients develop problematic cryptocurrency engagement patterns? How do counsellors identify and help clients with problematic cryptocurrency engagement? What challenges do counsellors face and what training or resources do they need to address cryptocurrency-related financial harm effectively? Rationale Cryptocurrency trading has emerged as a novel phenomenon with concerning parallels to gambling addiction. Research suggests cryptocurrency's structural characteristics—volatility, 24/7 availability, minimal barriers to entry—may facilitate gambling-like behaviours while also serving as a medium for investment scams exploiting similar psychological vulnerabilities. Financial counsellors occupy a unique position at the intersection of financial advice and behavioural intervention, providing direct observational evidence of how problematic cryptocurrency engagement presents in practice. Their professional experiences reveal assessment and intervention strategies unavailable through literature review alone, identifying specific training and resource needs to enhance professional capacity. This research addresses a critical knowledge gap in understanding professional responses to this emerging financial harm. Research Methodology Design: Qualitative study using semi-structured individual interviews and reflexive thematic analysis (Braun & Clarke, 2019). Theoretical Framework: Behavioural finance theory (Kahneman & Tversky, 1979), problem gambling frameworks (Blaszczynski & Nower, 2002), and professional practice theory (Schön, 1983). Data Collection: Semi-structured individual interviews (60-90 minutes each) Conducted via secure video conferencing or telephone Audio recorded with participant consent Open-ended questions exploring professional experiences, intervention strategies, and challenges Analysis Approach: Reflexive thematic analysis following Braun and Clarke's framework, allowing construction of meaningful themes through iterative engagement with rich contextual data while maintaining theoretical grounding. Participant Selection and Recruitment Sample Size: 8-15 certified financial counsellors (typical for qualitative research using reflexive thematic analysis, ensuring sufficiently rich data while maintaining analytical depth). Inclusion Criteria: Certified financial counsellors with recognized professional certification Current experience working with clients engaging in cryptocurrency-related financial presentations Able to participate in 60-90 minute interview Over 18 years of age, English-speaking Exclusion Criteria: Uncertified practitioners or those without formal financial counselling qualifications Unable to commit to interview participation requirements Under 18 years of age or non-English speakers Sampling Strategy: Purposive sampling ensuring diversity across experience levels, practice settings (private practice, non-profit, government agencies), and geographical locations (urban and regional Australia). Recruitment Methods: Professional networks and organisations (Financial Counselling Australia) Educational providers with connections to practitioners Public website searches of financial counselling practices Direct email contact using publicly available professional addresses Data Management Plan Data Collection: Audio recordings of interviews (45-60 minutes each) Interview transcripts (Word documents) Consent forms (PDF scanned documents) Participant demographic information (Excel spreadsheets) Data Storage During Project: RMIT network H: drive with password protection Separate storage of identifiable data and de-identified research data Access limited to research team only (Ajith Perera, Dr. James Collett, Dr. Russell Conduit) De-identification Protocol: Participants assigned unique codes (P01, P02, etc.) immediately following data collection Names, workplace locations, and identifying information removed from transcripts Coding key stored separately and destroyed after transcript approval by participants Audio recordings destroyed following transcription verification Data Retention: Personal identifiers: Destroyed after all participants approve transcripts De-identified research data: Retained for 5 years following publication (RMIT policy compliance) Audio recordings: Destroyed following transcription verification Ethics Approval: RMIT University Human Research Ethics Committee (Reference number: 29607) Project Benefits Individual Participants: Opportunity to reflect on professional practice and contribute to knowledge development Access to research findings that may enhance professional effectiveness Recognition of expertise in emerging area of practice Financial Counselling Profession: Evidence-based practice guidelines for addressing cryptocurrency-related financial harm Targeted training modules and specialised resources Enhanced professional capacity to support diverse client presentations Broader Community: Improved client outcomes through more effective counselling interventions Potential for early intervention reducing financial and mental health harm Contribution to public health approaches and regulatory improvements Better support for vulnerable populations (older adults, individuals with debt, disability pension recipients, regional communities) Risk Management Minimal Risks Identified: Time commitment (60-90 minutes) Potential discomfort reflecting on challenging professional cases Confidentiality concerns regarding professional reputation Risk Mitigation: Voluntary participation with right to withdraw at any time Comprehensive de-identification protocols Secure data storage and handling procedures Mental health support resources provided (Lifeline 13 11 14, Beyond Blue 1300 22 4636) Transcript review opportunity for participants Clear communication about confidentiality protections Timeline Start Date: Upon ethics approval End Date: Three years from approval date (maximum) Current Status: Ethics application submitted [insert date] Funding and Conflicts of Interest Funding: Supported by RMIT University resources Conflicts of Interest: None declared by research team Expected Outputs PhD thesis chapter Peer-reviewed journal publications in financial counselling, gambling studies, and public health Conference presentations at professional forums Practice guidelines for financial counsellors Training resource recommendations Compliance This research adheres to: National Statement on Ethical Conduct in Human Research (2023) Australian Code for Responsible Conduct of Research (2018) RMIT University research policies and procedures Privacy legislation (Victorian Information Privacy Principles) Pre-Registration Date: [insert] Ethics Reference Number: 29607
The Internet has evolved from its early promise of global connection and freedom into a centralized system dominated by Big Tech and governments, resulting in widespread data exploitation, surveillance, censorship, and erosion of user privacy and ownership. This paper traces the historical development of Web2 infrastructure, its foundational flaws—particularly the linkage of digital identities to real-world persons and the unchecked power of intermediaries—and the societal pressures that have exposed these vulnerabilities through events such as the Great Firewall of China, the Snowden revelations, the Cambridge Analytica scandal, and large-scale hacks. In response, the paper positions Web3 , underpinned by blockchain technology, as a necessary paradigm shift toward a decentralized, user-centric Internet. Web3 severs the tie between digital and physical identities, enables true data ownership, peer-to-peer encryption, global accessibility without geo-restrictions, and algorithmic governance that reduces reliance on potentially abusive middlemen. It argues that Web3 can encode core democratic values, including freedom of expression as articulated in Article 19 of the Universal Declaration of Human Rights, while addressing resistance from governments (concerned with control and taxation), Big Tech (threatened by loss of data monopolies), and everyday users (wary of complexity and perceived risks). The paper examines ethical considerations, potential misuse by bad actors, and the dual nature of technological innovation. It proposes four critical criteria for evaluating successful Web3 implementations: 1) affordability and equitable access with long-term cost reduction; 2) robust protection of individuals through privacy and bias mitigation, coupled with "freedom of speech, not reach"; 3) absence of any central governing body with control over development; and 4) a community-representative judicial system for handling violations of shared terms of service. Ultimately, this work contends that Web3 represents an inevitable evolution capable of empowering billions of users—particularly those in repressive regimes—by fostering transparency, equity, and self-governance, provided implementations adhere to these ethical and practical standards. It calls for cautious optimism, due diligence, and open-source verification in the transition to a more liberated and democratic digital era.
This study examines the influence of social media influencers (SMIs), fear of missing out (FOMO), and financial literacy on cryptocurrency investment decisions among Generation Z in Indonesia. A quantitative approach was employed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Data were collected through an online questionnaire distributed to Gen Z respondents, using purposive sampling and yielded 366 valid responses. The findings show that SMI primarily shape early interest by disseminating information, while FOMO dominates Gen Z’s investment behavior, driving impulsive decisions. As a moderator, FOMO negatively affects investment decisions, with fear outweighing influencer recommendations. Financial literacy emerges as the strongest predictor, fostering rational evaluation and reducing reliance on external cues. However, it does not strengthen SMI’s effect, underscoring the interplay of emotional, social, and cognitive factors in Gen Z’s cryptocurrency investments. This study provides new insights by jointly examining SMI, FOMO, and financial literacy on cryptocurrency investment decisions among Gen Z in Indonesia, an underexplored contextual and interactional perspective.
Over the past decade, the surge in popularity of cryptocurrency investment has garnered a lot of attention in the financial marketplace. This study aims to open the “black box” of cryptocurrency investors by understanding the past cryptocurrency investors’ characteristics. Specifically, we investigated the relationship between cryptocurrency investment investors and their characteristics, such as levels of financial literacy, as proxied by both subjective and objective financial knowledge measures, investment experience, and investment knowledge. We apply the logistic regression model to the data from the most recent cohort of the National Financial Capability Study 2021 (NFCS21). We find that investment experience and investment knowledge are the important factors related to investing in cryptocurrency among the characteristics examined. Surprisingly, we also find that individuals with higher education are less likely to become cryptocurrency investors. Finally, the present study reveals an interaction effect between age and investment knowledge, showing that the linkage between cryptocurrency investment and investment knowledge is stronger for younger investors with an age between 18 and 34 than for those above 44. This paper contributes to the existing literature on cryptocurrency investment by revealing the personal characteristics that categorize a cryptocurrency investor. This paper also extends the existing conceptual framework about cryptocurrency by showing that sociodemographic factors, such as age could moderate the linkage between investment knowledge and cryptocurrency investment.
This study investigates prospective Arab customers’ intentions to use cryptocurrencies. Using a quantitative approach, cross-sectional data from a purposive sample of 437 respondents were collected. The survey was distributed via 13 well-known social media platforms and Arab-focused social media groups. Direct, mediating, and moderating hypotheses are tested using structural equation modeling (SEM). The findings confirmed that the association between Digital Techno-stress (DTS) and the Intention to Adopt Cryptocurrency (IACR) is moderated by Ethical Issues (EI). Nevertheless, the study found that government regulations (GR) had no moderating effect on Arab cryptocurrency investors. The findings emphasize the necessity of ethical frameworks to increase credibility in Arab cryptocurrency marketplaces by fostering user-centric trading platforms, lowering techno-stress, and fostering trust.
Background: The Coronavirus Disease of 2019 (COVID-19) resulted in a global shift in gambling and trading behaviors. At present, a gap exists in understanding the relationship between excessive trading behavior and problem gambling, especially during the COVID-19 period. This narrative review analyzed (1) the changes in trading and gambling activity during the COVID-19 pandemic, (2) whether the pattern of trading activity resembles problem gambling, and (3) whether excessive trading and problem gambling share similar consequences. Methods: We searched databases such as Medline, PsychINFO, Scopus, and Google Scholar using relevant keywords, and included 60 reports for narrative synthesis. Results: During the COVID-19 pandemic, there were major changes to trading behavior, possibly due to market sentiments and psychology, personal financial needs, social media influence, and the behavior of other investors. The progression of the pandemic led to an increase in brokerage account openings and an increase in trading activities among existing investors, likely due to the development of digital trading platforms that enhanced accessibility for technology-adept investors. There was also a shift from gambling at physical destinations to online gambling, with an increase in frequency and spending among individuals who continued gambling. Feelings of boredom, stress, and the need for relaxation may motivate people to engage in gambling. Conclusion: Individuals who engaged in excessive trading and problem gambling shared similar traits and may thus face similar psychiatric consequences. The findings indicate that we can apply the diagnostic criteria for pathological gambling and gambling disorders to excessive trading, given that many of these individuals meet the criteria for an addictive disorder.
This current study explores the intention to adopt cryptocurrencies (IACR) within the Arab world. The study is founded on the diffusion of innovation theory and examines the relationship through the mediation of digital technostress and the moderation of ethical issues and government regulations. The study employed a quantitative approach and gathered cross-sectional data from 437 respondents through an online survey. Subsequently, structural equation modeling (SEM) was utilized to test hypotheses. The findings indicated that digital technostress acts as a mediating factor in the relationship between variables such as complexity, observability, compatibility, and the intention to adopt cryptocurrency, while no mediating effect was observed between relative advantage and trialability and the intention to adopt cryptocurrency through digital technostress. Furthermore, the study confirmed the moderating role of ethical issues in the relationship between digital technostress and the intention to adopt cryptocurrency. However, no moderating effects of government regulations on cryptocurrency adoption among Arab investors were identified. Findings highlight the importance of fostering supportive regulatory environments for cryptocurrency investment in the Arab world and affirm the applicability of the diffusion of innovation theory in the context of blockchain and cryptography. Empirical evidence emphasizes the need for further longitudinal investigations in global regions.
Introduction There is a continuum between gambling and investing behaviors, with speculative investment instruments positioned in the middle. Cryptocurrencies, being significantly more volatile than traditional investment tools, have increasingly been linked to gambling disorder (GD). This study aims to examine the relationship between cryptocurrency trading behavior and GD, high-risk substance use, high-risk alcohol use, and tobacco dependence among healthcare professionals in Türkiye. Methods A total of 192 healthcare professionals were assessed using the Problematic Cryptocurrency Trading Scale (PCTS), Gambling Disorder Screening Test (GDST), and the Addiction Profile Index Risk Screening Form (APIRS) (Alcohol and Drug Scales). Categorical data comparisons between two independent groups were conducted using Chi-square or Fisher’s Exact tests. Spearman correlation coefficients were used to examine relationships between PCTS scores and APIRS/GDST scores. Additionally, linear regression models assessed the predictive relationships between PCTS scores and APIRS/GDST scores. Results Among the participants, 25.5% reported engaging in cryptocurrency trading, 41.7% had tobacco dependence, 15.1% reported high-risk alcohol use, 5.7% had high-risk substance use, and 8.9% met the criteria for GD. Cryptocurrency traders demonstrated higher rates of substance use ( p = 0.033), tobacco dependence ( p < 0.001), and GD ( p = 0.043). Additionally, the severity of problematic cryptocurrency trading behavior was positively correlated with the severity of substance use ( r = 0.172, p = 0.017) and GD ( r = 0.455, p < 0.001). Conclusion The findings indicate a significant relationship between cryptocurrency trading behavior and addiction. Further research with clinical interviews and larger sample sizes is required to validate these findings. The high rates of alcohol, substance, tobacco, and gambling addictions observed among healthcare professionals underscore the need for targeted preventive measures and interventions in this population.
This study investigates how media influence and educational resources shape individual engagement with cryptocurrencies. As digital assets become increasingly mainstream, social media platforms, influencers, and financial analysts play a central role in driving public interest and investment behavior. Quantitative surveys and qualitative interviews reveal that persuasive narratives and success stories on social media often attract new investors, while accessible educational materials empower individuals to make informed decisions in a volatile market. The findings highlight that media exposure can spark initial adoption, but sustained and responsible participation depends on comprehensive education in cryptocurrency fundamentals, trading strategies, and blockchain technology
Jaroslava Gburová, Daniela Matušíková, Andrea Vadkertiová
This study explores how demographic factors shape perceptions of celebrity and influencer marketing in the context of promoting cryptocurrencies, particularly in the tourism sector. It evaluates whether such marketing strategies effectively promote cryptocurrencies and how their impact varies across demographic groups. By analyzing responses from a sample of 161 predominantly young and educated respondents, the study uses statistical methods to identify differences in perceived marketing effectiveness based on age, gender, and other demographics. Findings reveal no significant demographic differences in effectiveness; instead, the study underscores the importance of universal marketing qualities, such as authenticity, credibility, and relevance. These results suggest the need for inclusive marketing strategies that foster trust and transparency. Additionally, the study highlights avenues for future research, including cultural and ethical considerations, to refine marketing approaches and develop innovative campaigns that drive cryptocurrency adoption and trust in the tourism industry.
Open access
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Abstract Turbulent market conditions, well-publicized advantages, and potential individual, social, and environmental risks make blockchain-based cryptocurrencies a popular focus of the public and scientific communities. This paper contributes to the literature on the future of crypto markets by analyzing a promising cryptocurrency innovation from a customer-centric point of view; it explores the factors influencing user acceptance of a hypothetical social network-backed cryptocurrency in Central Europe. The research model adapts an internationally comparative framework and extends the well-established unified theory of acceptance and use of the technology model with the concept of perceived risk and trust. We explore user attitudes with a survey on a large Hungarian sample and analyze the database with consistent partial least square structural equation modeling methodology. The results show that users would be primarily influenced by the expected usefulness of the new technology assuming it is easy to use. Furthermore, our analysis also highlights that while social influence does not seem to sway user opinions, consumers are susceptible to technological risks, and trust is an important determinant of their openness toward innovations in financial services. We contribute to the cryptocurrency literature with a future-centric technological focus and provide new evidence from an under-researched geographic region. The results also have practical implications for business decision-makers and policymakers.
Ahmethan Turan, Mehmet ya, Ertan lmaz, M. Munir Syam AR
Objective: Cryptocurrency trading has become widespread in recent years with developing technology and ease of use. As this is similar to gambling and pathological trading, this can produce an addiction. In this study, we aimed to examine the relationship between use of cryptocurrencies and ADHD symptoms, quality of life and sleep quality among university students. Methods: In total 921 university students were included in this study. All participants answered the sociodemographic data form, Adult Attention Deficit Hyperactivity Disorder Self-Report Scale (ASRS), 36-Item Short Form Survey (SF-36) and Pittsburgh Sleep Quality Index (PSQI) using the online questionnaire method. Cryptocurrency users additionally responded to Problematic Cryptocurrency Trading Scale (PCTS). Results: In the cryptocurrency users’ ASRS scores were significantly higher (p<0.001), all SF-36 scores were significantly lower (for mental health subscale p=0.034, for other subscales p<0.001) in except SF-36 bodily pain scores, PSQI global scores (p<0.001) and subscales scores were found to be significantly higher (for sleep latency subscale p=0.013, for sleep disturbances subscale p=0.041, for other subscales p<0.001). Among those who cryptocurrency user, positive significant relationship was found between male gender, gambling, smoking and psychiatric history and PCTS scores (p=0.017, p=0.002, p=0.029, p=0.011 respectively). Conclusion: Cryptocurrency users have shown more ADHD symptoms, lower sleep quality and lower quality of life than non-users. Cryptocurrency use is common among university students and it should not be overlooked that it can evolve into behavioral addiction.
Cryptocurrencies are innovative digital assets that became significantly popular in recent years. Despite their popularity, literature about cryptocurrencies is still lacking. Specifically, little is known about the psychological profile of cryptocurrency owners. The present paper aims to investigate the role of financial literacy, self-efficacy, risk tolerance, and impulsivity in cryptocurrency ownership in a representative sample of 1,153 Italian consumers. In particular, a Latent Profile Analysis was performed on cross-sectional data to identify different psychological profiles of consumers, and test which of these profiles is more likely to hold cryptocurrencies. Results indicate the presence of six different psychological profiles and that the psychological profile that best describes those who hold cryptocurrencies is characterized by high levels of financial literacy, risk tolerance, and self-efficacy in investment domains. Instead, a configuration of low financial literacy and high self-efficacy, risk appetite, and impulsivity scores is mostly associated with having owned cryptocurrencies in the past. These findings would suggest that psychological characteristics play a key role in cryptocurrency ownership.
Mevlüt Uysal, Mutlu Tahsin Üstündağ, Ahmet Çelik, Mustafa TANRIVERDİ · 6 authors
Web3, characterized by its decentralization, user autonomy, and integration of blockchain technologies, introduces a novel ecosystem that is rife with both opportunities and complexities. While these advances are rewriting the conventional norms of digital interaction and data management, they are also ushering in a new set of challenges and learning curves. We introduce the "Web3 Awareness Scale" as a main element through the current study. This carefully designed scale assesses university students' understanding and readiness for the emerging landscape of Web3. Whilst the article provides detailed insights into the technical, real-world applications and challenges of Web3, the inclusion of the scale emphasizes the practical assessment of awareness and readiness among key digital natives - students. As a result of the EFA, 6 items were removed from the scale, and the total explained variance of the two-factor structure consisted of 31. The final version of the scale showed a total explained variation of 64.16%. Specifically, the first factor, Opportunities, accounted for 46.94% of the variance, while the second factor, Risks, accounted for 17.21% of the variance. It is found that the coefficients of all factors indicate a very highly reliable measurement. The interpretation is that both the total scale and each factor have a high level of reliability. The findings from the scale are critical and have the potential to provide invaluable insights. These insights are expected to shape future educational curricula and policy-making, ensuring that the next generation is well-equipped to navigate and exploit the opportunities of Web3.